Micron Technology has reported net sales of $2.29bn for the third quarter of 2010, an increase of 108% compared to $1.1bn for the same period last year.
The company posted an operating income of $540m for the third quarter, compared to operating loss of $246m for the same period last year. The company’s gross margin on sales of memory products improved from 35% in the second quarter to 40% in the third quarter due to an overall increase in average selling prices and the benefit for price adjustments from suppliers of NAND products.
For the quarter ended June 3, 2010, net income was $939m, compared to net loss of $301m for the same period last year. Diluted earnings per share were $0.92 compared to loss per share of $0.37.
Revenue from sales of DRAM products increased 10% in the third quarter of fiscal 2010 compared to the second quarter of fiscal 2010 due to a 9% increase in average selling prices and a slight increase in unit sales volume. Revenue from sales of NAND Flash products was approximately 16% higher in the third quarter compared to the second quarter due to a 21% increase in unit sales volume. Micron reported.
